BHEL divestment under lens: Minister

The government said on Friday it is considering offloading 10 per cent of its equity stake in navratna public sector unit Bharat Heavy electricals Limited.

"The point of disinvestment (in BHEL) is still under consideration. . . the government has definitely a positive thinking on that line," minister of heavy industries and public enterprises Vilasrao Deshmukh said when asked whether the government is considering divesting 10 per cent in the company.

Addressing his first conference after taking charge as the Cabinet minister, Deshmukh said his department would back the disinvestment policies of the government.

BHEL is a power equipment Rs 28,000 crore (Rs 280 billion) listed company. Its stock is trading at Rs 2,060.10 on the Bombay Stock Exchange.

The government, if it chooses to further disinvest its stake in the company, will have to come with a follow-on public offer.